Argentine Tenants Lead Crypto Adoption, Pay Rent in BTC Under Novel Contract – Pesos Out, Bitcoin In?

Argentina crypto adoption Crypto Payment
Last updated:
Author
Author
Trent Alan
About Author

Trent has a background and education in journalism and communications, with two decades of experience editing and writing on a diverse array of topics. In recent years, however, he has shifted his...

Last updated:
Why Trust Cryptonews
With over a decade of crypto coverage, Cryptonews delivers authoritative insights you can rely on. Our veteran team of journalists and analysts combines in-depth market knowledge with hands-on testing of blockchain technologies. We maintain strict editorial standards, ensuring factual accuracy and impartial reporting on both established cryptocurrencies and emerging projects. Our longstanding presence in the industry and commitment to quality journalism make Cryptonews a trusted source in the dynamic world of digital assets. Read more about Cryptonews
Crypto adoption in Argentine cemented by the first ever Bitcoin rental agreement.
Rosario Bitcoin contract marks major milestone in Argentina’s push for mainstream crypto adoption. Image by Kerem Goktug Kaya, DALL-E 3.

Argentina’s third most populated city Rosario recently saw an unprecedented rental agreement that signifies a major milestone for crypto adoption in the country. A local landlord and tenant signed Argentina’s first-ever Bitcoin rental contract, as reported by the local newspaper Paginal 12 on January 11.

According to the report, the contract stipulates that the tenant will pay $100 worth of Bitcoin every month to the landlord through Fiwind, a domestic crypto platform. Both parties involved are said to be experienced cryptocurrency users, embracing the virtual asset amid nationwide inflation.

Crypto Adoption Reaches New Milestone in Argentina

The novel Bitcoin rental pact was made possible by new decrees and amendments to the Argentine rental law enacted late last year by President Javier Milei‘s administration. The reforms were enacted to deregulate the economy and legalize certain cryptocurrency activities.

In December 2023, Minister of Foreign Affairs Diana Mondino announced that a decree had been passed to allow the use of Bitcoin and other cryptocurrencies in Argentina under specific conditions. The government also eased restrictions around declaring crypto holdings for tax purposes.

The Rosario Bitcoin rental agreement signifies Argentine citizens’ growing preference for cryptocurrency over the rapidly devaluing peso. As the nation continues its push to adopt virtual assets, more landlords and tenants may soon follow suit and choose to pay rent in BTC.

While only time will tell whether this marks a permanent shift away from fiat currency, Argentina’s first ever Bitcoin rent contract is an important milestone in crypto adoption. The country appears to be paving the way for cryptocurrency to go mainstream.

More Articles

Altcoin News
Huawei Integrates Digital Yuan in HarmonyOS NEXT, Reaching Up to 1 Billion Users
Ruholamin Haqshanas
Ruholamin Haqshanas
2024-11-02 16:52:49
Bitcoin News
XRP Price Analysis: Will Ripple’s Network Expansion Fuel a Rally to $10?
Arslan Butt
Arslan Butt
2024-11-02 11:58:03
Crypto News in numbers
editors
Authors List + 66 More
2M+
Active Monthly Users Around the World
250+
Guides and Reviews Articles
8
Years on the Market
70
International Team Authors